Yamaha SS-2 200 Will not run or idle low, Possible water ingestion???????

[Bellflower]

OK, We bought a 98 Cobia 264 w/ twin yamaha SS-2 200's on it from an auction. Boat ran great when originaly tested, well on my second trip, noticed the port engine loosing rpms, shut it down and noticed water coming from the cowling, pulled the cowling to find where the water was coming from, for some reason, the plugs on the top of the heads were not tight and one had worked its self out causing water to pump in the cowling, found the plug and tightend them up, fired the motor up and reved it up a few times till it cleared out and then headed back in (5 mile run maybe) and everthing was fine. Well the boat sat for 2 weeks and went to get ready to go out again and that motor was locked up, pulled the plugs and the were rusted and nasty. put some wd40 in the cylinders and let it sit for a little while, turned the motor over with no plugs and it freed right up, changed the plugs and let it run on the hose for a while to check for any damage, ran great and seamed fine, no sign of water on the new plugs. well put it in the water to go out and the motor seamed a little cold natured, well got going and ran about 3 miles to get bait, motor ran great untill when I backed off to stop, that motor shut off and would not crank. the only way to get it to crank was to feather the throttle and keep it abouve about 4000 rpms. played with it a while and got it to get on plane and it ran great above 4, both motors were in synch burning the same amount of fuel. Motor will not idle or run in any low rpms. Got home and pulled the plugs, They dont seamed to be rusted from water again, but they are a rusty orange color, even on the ceramic. Any ideas what damage is done... here a re a few ideas im checking

Blown head gasket

Junk in carbs

WD40 may have fouled plugs and turned them the orange color

still have water in motor

fuel supply or ignition problem ( both motors have same fuel tank, and the other is fine)

Aby help would be great guys, I just hope its something simple and not a big problem

[zzzzz]

do a compression test before you go any farther

[Bellflower]

Checked compresion tonite, All great and in range. Put in a set of new plugs and no change, still no idle and does not want to run below arounf 4000 rpm, kinda leaning towards a fuel problem, low spped jets maybe..... time to clean the carbs I guess, Any other suggestions?????